Planning for Accountancy Outsourcing Services in London? Don’t forget to Ask These 4 Security Questions

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Being an accounting practice in London, you want your clients’ accounts to be managed professionally and accurately. For that, you need to hire an in-house accountant or even a part-time bookkeeper to complete the work on time and to maintain the reputation of your firm. But always hiring a full-time accountant is not an economical solution, when you have the option of accountancy outsourcing services in the United Kingdom. Outsourced accounting services offered by companies like Affinity Outsourcing is an ideal solution for accounting practices in London.

As you are sending a great deal of sensitive financial details to a third party, here are some truly important security questions to ask and they are;

  1. Type of Physical Security Used at the Place of Business: Before you think about the security of the electronic data, make sure the places where servers and other financial records are stored are properly secured. Also make sure you have every information about the type of access employees have to record area or databases – figure out whether the server room is secured, and if secured, then what types of security measures are in place. If you are partnering with a remote staffing company, ask them what steps are in place to monitor the location and dissemination of data. Make sure virtual employees are logged into secured servers that don’t allow for transfers of information to local computers or local printing.
  1. Encryption Methods Used on Their Website and Login Portals: The most common encryption method uses an SSL Certification for 128-bit or 256-bit encryption for sending files to the website. This type of encryption prevents the information from being recovered in plain text by any hackers sniffing packets, preventing them from decoding the details sent to the accounting firm. If your outsourced accounting company is sharing and receiving the client’s data via cloud storage or file room, then make sure to find out what security features are in place to protect access by third parties.
  1. What About the Older File You’ve Finished Working With: Once the allocated tasks are finished, try to find out what your outsourced accounting partner is doing with those older files and data. Is it storing it somewhere for a specific period of time? Are they destroying/deleting the data after giving you the copies of finished tasks? Or Are they still saving it? Make sure to know, in writing, what also happens to your files if you choose to end your relationship with your bookkeeping service.
  1. Safety Measures in Case of Data Breach: Data breaches are quite common these days; therefore, find out exactly what policies the company has put in place to lower the level of damage, compensate the affected, and recover the breached data. What alert system is kept in place? When will you be updated about the data breach? So, to overcome all these questions, make sure the company you hire has a solid emergency action plan in place before an emergency occurs.

Partnering with an outsourced accounting services provider can be frightening if you are not aware of data security and technology related to it. Therefore, before you choose an outsourced accounting and bookkeeping firm, you get answers to all the questions listed above.

If you are an accounting practice in London, and considering using outsourced accounting services for your bookkeeping, then we can help you weigh your options and needs. We have plenty of flexible hiring modules with proper security standards in place. For a free consultation and quote, please contact us at https://affinityoutsourcing.net.

Planning for Accountancy Outsourcing Services in London? Don’t forget to Ask These 4 Security Questions

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Being an accounting practice in London, you want your clients’ accounts to be managed professionally and accurately. For that, you need to hire an in-house accountant or even a part-time bookkeeper to complete the work on time and to maintain the reputation of your firm. But always hiring a full-time accountant is not an economical solution, when you have the option of accountancy outsourcing services in the United Kingdom. Outsourced accounting services offered by companies like Affinity Outsourcing is an ideal solution for accounting practices in London.

As you are sending a great deal of sensitive financial details to a third party, here are some truly important security questions to ask and they are;

  1. Type of Physical Security Used at the Place of Business: Before you think about the security of the electronic data, make sure the places where servers and other financial records are stored are properly secured. Also make sure you have every information about the type of access employees have to record area or databases – figure out whether the server room is secured, and if secured, then what types of security measures are in place. If you are partnering with a remote staffing company, ask them what steps are in place to monitor the location and dissemination of data. Make sure virtual employees are logged into secured servers that don’t allow for transfers of information to local computers or local printing.
  1. Encryption Methods Used on Their Website and Login Portals: The most common encryption method uses an SSL Certification for 128-bit or 256-bit encryption for sending files to the website. This type of encryption prevents the information from being recovered in plain text by any hackers sniffing packets, preventing them from decoding the details sent to the accounting firm. If your outsourced accounting company is sharing and receiving the client’s data via cloud storage or file room, then make sure to find out what security features are in place to protect access by third parties.
  1. What About the Older File You’ve Finished Working With: Once the allocated tasks are finished, try to find out what your outsourced accounting partner is doing with those older files and data. Is it storing it somewhere for a specific period of time? Are they destroying/deleting the data after giving you the copies of finished tasks? Or Are they still saving it? Make sure to know, in writing, what also happens to your files if you choose to end your relationship with your bookkeeping service.
  1. Safety Measures in Case of Data Breach: Data breaches are quite common these days; therefore, find out exactly what policies the company has put in place to lower the level of damage, compensate the affected, and recover the breached data. What alert system is kept in place? When will you be updated about the data breach? So, to overcome all these questions, make sure the company you hire has a solid emergency action plan in place before an emergency occurs.

Partnering with an outsourced accounting services provider can be frightening if you are not aware of data security and technology related to it. Therefore, before you choose an outsourced accounting and bookkeeping firm, you get answers to all the questions listed above.

If you are an accounting practice in London, and considering using outsourced accounting services for your bookkeeping, then we can help you weigh your options and needs. We have plenty of flexible hiring modules with proper security standards in place. For a free consultation and quote, please contact us at https://affinityoutsourcing.net.

Affinity Outsourcing Offers Cloud-Based Secure Outsourced Accounting Services in London, UK

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Are you a sole accountant or an accounting firm in London searching for ways to decrease or cut down your business operational cost? If so, then outsourcing your accounting tasks is one of the solutions. Many accounting firms in London are realizing greater efficiencies by outsourcing their accounting tasks to accountancy outsourcing service providers such as Affinity Outsourcing.

When you hire an outsourced accounting firm, like ours, you get access to an extensive range of highly secure accounting services along with profitable financial advice. Your financial data is highly secure with us. Whether it is regarding paper documents and files in a digital format or data inside the financial software you use, Affinity Outsourcing has standard protocols to ensure the exchange and storage of information happen in a compliant manner. Additionally, our outsourced accounting services are scalable, allowing our clients to tap into the level of solutions they and their business needs.

We offer Secure, Cloud-based Outsourced Accounting Services

When you outsource all or part of your accounting tasks, at Affinity Outsourcing, we offer you accounting services through secure, cloud-based accounting software from our office, which means you don’t need to worry about any infrastructure cost. Moreover, Cloud-based accounting techniques that we use reduces laborious manual processes and enable a business to have access to real-time financial information. Not only one, but we have experience with all the major accounting software and can help your business with selecting and implementing the most suitable software solutions that ideally meet your business requirements.

Affinity Outsourcing’s Outsourced Accounting Services include:

  1. Management of accounting and bookkeeping processes
  2. Online bill payment
  3. Budgeting and cash flow
  4. Audit preparation
  5. Payroll set-up and processing
  6. Bank and credit card reconciliations
  7. Financial reporting
  8. More…

If you believe your accounting firm is ready to score higher and touch the next level of evolution, then we can help you with our highly secure, cloud-based outsourced accounting services. We are always on your side with high quality accounting services and uninterrupted support and communication. We offer detailed work reports so you are always kept up to date with all that is going on in your business’ accounting department. Unlike others, we work as an indispensable part of your business to help ensure you always get what you need when you need it.

To know more about our secure, cloud-based outsourced accounting services in London, please feel free to contact experts for a free consultation at https://affinityoutsourcing.net. We can help you run your business more effectively.

Why Accounting Firms in London Are Increasingly Outsourcing Tax Preparation?

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Plenty of accounting firms in London are looking abroad in hope that outsourcing accounting, bookkeeping and other tasks may consolidate their business and offer them free time to focus on more productive work.

Some of the common tasks to outsource are bookkeeping and tax return preparation, and small-scale accounting firms and individual accountants in London have been benefiting from affordable labor costs and fast turnaround times that an outsourcing company offers. Outsourcing accounting tasks such as bookkeeping and tax preparation have numerous advantages and accounting firms have achieved good results.

Listed Below are 6 Reasons Why Accounting Firms are Outsourcing Accounting Services:

1. Compared to all other reasons, the most common reason behind outsourcing is the expansion of the business. Likewise, procuring new clients turns out to be simple when you outsource accounting and bookkeeping services. Whenever accountancy practices in London outsource their tax preparation tasks, they get a longer time to pay attention to the important requirements of the clients.

2. Whey you hire an in-house resource, then there is a rise in the operating cost of the firm.

3. Losing a client is the nightmare for any firm, and when you outsource your accounting tasks to the offshore businesses, you can magnify your return by having to pay less. Additionally, there is no need to lose those valued clients as it may transpire if you happen to be caught up with crucial tasks.

4. Another crucial reason of outsourcing is the fact that you obtain a premium quality work job within the agreed time period.

5. Working with an outsourcing company like affinity for bookkeeping and accounting tasks is quite simpler as compared to dealing with an in-house team of accountants.

6. You possibly can boost the efficiency of business whenever you get a pool of qualified staff pertaining to an outsourcing company.

At Affinity Outsourcing, we can take care of bookkeeping and tax preparation for accounting firms very well. To know more about our outsourced bookkeeping and accounting services, get in touch with us today at 0203–848–4450 or mail us at info@affinityoutsourcing.net. We offer no-obligation quote and free consultation.

Here are How QuickBooks can Improve Your business’s Cash Flow

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It’s not surprising that Intuit’s QuickBooks has been named as the best accounting software for small businesses in 2019. It not only helps a small business streamline the entire bookkeeping and accounting system, but it can also be used as a tool to help inform a business’s financial management strategy.  In fact, many small business owners make use of QuickBooks to enhance their company’s cash flow. Here are 3 ways you can use QuickBooks to improve cash flow in your business:

Make use of QuickBooks for Billing and Collection

A really recommended way to enhance your cash flow is to ensure you are regularly collecting your payments from customers and clients, and optimize your method for how you get paid. QuickBooks allows a small business to accept payments via credit cards and also via mobile. Things are made quite simple with QuickBooks – businesses can email invoices to customers with the payment link. Once the payment is made, QuickBooks automatically posts the payment to the customer’s account receivable, saving you the time of having to input the data manually.

The faster and the regular you get paid by your customers, the better your cash flow will be. With more cash on hand, you avoid wasting valuable time on collections, and you can take advantage of early payment discounts and interest earned on more money in your bank for more days.

Make use of QuickBooks to Download Bank and Credit Card Statements

Businesses using QuickBooks can set up a system by which they can download the bank and credit card statement online. This will offer you more realistic view of their current cash flow situation. You can quickly pull up these balances to gauge where your cash flow is in order to make more informed spending decisions right then and there.

Make Use of QuickBooks to Forecast Cash Flow

With the help of QuickBooks, you can create a 13-week cash flow forecast reports to help you take better financial decisions. QuickBooks users can download Accounts Receivable, Accounts Payable, and Recurring, Non-Payable Expenses from QuickBooks and lay them out in Excel to analyze the data and predict cash flow over the course of the next 13 weeks. This data can help businesses take better business decisions and even plan further ahead for the future.

If you are unable to manage your cash flow properly, then there are chances that your company may face a risk of failing. Therefore, it is advisable that you manage your accounts properly and regularly. Don’t let your business become a statistic; do your homework.

If you need help in managing your QuickBooks or any other accounting related tasks, then feel free to contact us at Affinity Outsourcing https://affinityoutsourcing.net. We are accountancy outsourcing company with more than 30 years of industry experience. Contact us for a free quote and consultation as well.

Accountancy Outsourcing Services in London for Construction Business

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According to a survey, approximately half of the construction companies shut down their offices within the first four years from the date of the start. And, one of the most common reasons for this was the improper management of the cash flow. Survey clearly stated that the contractors were not able to manage their cash flow, which ultimately forced them to close their offices. The Contractors got stuck in this bizarre scenario, because they were quite unaware about accounting principles and how to efficient manage their finances. If you too belong to the Construction industry and are facing the same situation, then the only way to save yourself and your business from this uncertainty is Accountancy Outsourcing Services.

Affinity Outsourcing – We offer Accountancy Outsourcing Services for Different Types of Construction Business in London;

  • Small Renovation Contractors
  • General Contractors
  • Owner-Builder
  • Real Estate Developer
  • Professional Construction Manager
  • Program Manager
  • Package (Turnkey) Builders
  • Sponsor-Builder

Accounting for Construction companies can yield a plenty of advantages. It allows companies to focus on business activities, proper use of business finances, and optimum use of human resources. Outsourcing Accounting companies like Affinity Outsourcing gives you access to highly experienced and trained resources. If you tend to be a startup or a small construction company, and don’t have the access to skilled employees then outsourcing your accounting tasks is the best you can do.

The Advantages Accountancy Outsourcing Services;

Accountancy Outsourcing Services sets you free so that you can focus on your business. Affinity Outsourcing has the team of highly skilled accountants and bookkeepers that are competitive and best for your business operations. They specialized in construction accounting, bookkeeping, and taxation and payroll services for construction companies across the London, UK.

  • Cost savings and efficiency
  • Operational control
  • Staffing flexibility
  • Enables innovation
  • Focus on Your Core Business

Accounts outsourcing services for construction business offered by Affinity will help you to identify the financial indicators and performance readily, enabling you to make right decisions at the right time.

Kindly feel free to Contact us today for a free consultation. Visit us at https://affinityoutsourcing.net or call us at 0203–848–4450

Accounting Outsourcing Services, London – This Is How You Can Effectively Handle Your Remote Employees

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Remote staff can be gigantic resources, who can give sensible help in an extensive variety of positions in small and medium-size accounting firms. By minimizing expenses without relinquishing the quality, organizations around the world have possessed the capacity to rethink the work environment condition and handle nontraditional models in new and innovative ways.

When it comes to Accounting Outsourcing Services in London, finding and enlisting the correct remote staff can be like that of finding a local accountant nearby, however a little diversely as the interviews, tests and every other procedure is carried out over the web. That is another story in any case. When you require to pull the correct representative, contract just the best, and keep a group of remote staff stimulated and upbeat, these tips will help guarantee you’re heading the correct way.

Find the Right Fit for Your Company

Hiring a team of talented bookkeepers is a huge challenge for many small and medium-sized accountant firms in London, UK. Reviewing the resumes of the candidates, interviewing those candidates, and discussing their salaries, all these processes take a considerable amount of time away from your existing obligations, which may end up hurting the business in the long run. That is the reason behind an ever-increasing number of firms in London looking for Accountancy Outsourcing Services, which saves a lot of time and effort.

Fast Hiring

Compared to past days, the job market has improved impressively, and the candidates currently have high ground. This implies that the hiring process of candidates is longer and more troublesome than in years past. “Great talent becomes harder to find, and it becomes extremely time-consuming for firms reviewing resumes and conduct interviews, all while still being responsible for their day-to-day operations,”

“Working with a trusted outsourcing accounting services provider can save time and money. An outsourcing company can prescreen and qualify candidates to ensure you always interview those candidates who are a fit for the role.”

Testing the Skills

Accounting Outsourcing Firms allow the accounting firms in London to hire a bookkeeper or an accountant from a huge pool of talented resources instead of being limited to the geographic locations. The hiring procedure of a remote staff is like procuring any in-house employee. You will have the complete resumes of the candidates from which you can hire a candidate as per your need and convenience. You can also go for a video call if you wish to know more about the candidate’s qualifications and overall work experience in the industry. Over a video call, you can cover a wide variety of subjects such as software skills for programs like QuickBooks Online and Xero, accounting principles, journal entries, financial statement generation and analysis, and more. When you are happy with candidates’ abilities, you can employ them.

Advantages of Accountancy Outsourcing Services:

There are plenty of advantages of accountancy outsourcing services, and affordability and credibility stay atop of the chart. You get access to an entire team of bookkeepers with years of experience that specialize in your exact business. Here’s a Small List of Benefits:

  • Saves time and money after training the employees
  • Recourses can be adjusted as per the requirements
  • Don’t have to worry about taxes, payroll, etc.
  • Extremely affordable and least risks of attrition

You need to find a responsive and reliable staffing company that can give you the specific care and service your business requires. If you wish to know, how Outsourcing for accounting practices can help your business, please contact us at https://affinityoutsourcing.net. We offer a free consultation to understand your bookkeeping requirements.

Accountancy Outsourcing Services in London: Is Your Business Ready?

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Business pioneers frequently search for approaches to deal with their organizations utilizing a savvy dispersion plan, private companies and business people discover more imaginative approaches to accomplish their business objectives, these plans bind one of the inquiries that choose for the future utilization of their assets: “Who will chip away at it?”

Outsourcing is ordinarily characterized as an outside administration gave by another business association practicing on the requirements of an organization like extra assets, programming, or innovation all incorporated into a type of a bundle paid each due contract. However, beyond the description of contractual service, an executive should ponder all the underlying factors that lead the company to outsource.

In an article by Forbes on key outsourcing, is it said “Knowing how and when to outsource can be confused, notwithstanding portraying can be entangled. Organizations by and large outsource in two different ways: they outsource a solitary segment of their everyday tasks, or they build up outsourcing as a vital piece of their business”, this implies outsourcing can simply prove to be useful however it doesn’t really ensure accomplishment until the point when you decide certain administrations that your organization is allowed to give up for activities.

Fund and bookkeeping hold a standout amongst the most basic data for an organization as the procedure capacities as an illustrative numerical guide of the considerable number of exchanges of the organization up to its income development. Managing payroll, auditing, tax consultations, and the like are one of the responsibilities held on this area, which means more information, more workload, more paper, and more resources.

On the off chance that a business pioneer has picked to outsource its assets for finance and accounting, what could be the focuses to consider if the organization is prepared to work with an outsider association? Here are the accompanying tips to effectively decide a modified administration bargain:

Systemized Work – Proposed work process with innovation will undoubtedly work with human intercession to control quality and lessen human blunders, F&A exchanges will have the opportunity to wind up robotized and incorporate a procedure recommended by the outsourcing accomplice.

Time and Tools – Access to present-day gear, for example, cloud innovation, cryptographic money, and hard machines advanced adaptability and more information stockpiling. This additionally empowers paperless correspondence and a bigger workspace for office workplaces, liberating them to a pile of papers that hold the most seasoned exchanges.

Experience and Expertise – An outsourced staff should hold passing capabilities, for example, training, benefit understanding, work state of mind, and accessibility. These assets are an augmentation of your organization and will speak to you as indicated by their exhibitions and development.

Training – Outsourcing doesn’t end on getting outer resources to take a shot at the necessities of your organization, a business owner must be prepared to invest in training the designated representatives of the company, and must offer all the details that will serve as their guide in terms of onboarding.

In this constantly rising industry where associations and rivalry is a blend of business achievement, a rising business leader of administration and innovation must experience operational choices that lie between remaining in customary method of bookkeeping or wandering in an advanced stage offered by outer associations that makes utilization of their specific administrations to enhance properties of the organization.

Affinity Associates has an extensive variety of services that help businesses flourish globally. With more than 30 years of experience and its exceptional pool of talents in finance and investment, Affinity can manage accurate and timely accounting reports to ensure that you keep your earnings positive and under control.

If you are planning to change the game plan then, Affinity’s Accounting Outsourcing Services in London and across the UK may help you out. Find more by contacting us here https://affinityoutsourcing.net. For a free Consultation, just dial 0203–848–4450.

Ever Heard About Research & Development Tax Credits? If No, Here’s How It Can Benefit Your Business

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Organizations ( especially small and large) over the UK are passing up a huge number of pounds worth of Research and Development (R&D) Tax Credits that can support the cost of new workers, hardware, re-put resources into encourage advancement, or notwithstanding paying out profits.

Presented by the UK Government in 2000, R&D Tax Credits is intended to energize advancement by enabling organizations to recover a portion of the cash they have spent on building up another, or enhancing a current, item, administration or procedures.

Misfortune influencing SMEs to can guarantee R&D Tax Credit reimbursement from HMRC of up to £33.33 for each £100 spent on qualifying R&D use. Benefit influencing SMEs to can assert R&D Tax Relief which decreases their organization charge by up to 230%.

Regardless of the advantages, under 1% of all qualified UK organizations have ever constructed a claim in view of its apparent many-sided quality and a misconception of what constitutes qualifying R&D action.

R&D Tax Credits Is Not Limited To Tech Or Science

It’s astonishing what number of organizations trust R&D Tax Credits is just accessible to tech new businesses or science labs. This just isn’t valid.

Any business can meet all requirements for R&D Tax Credits insofar as long as they burn through cash on building up another, or enhancing a current, item, administration or process that constitutes a “progress” in science and innovation.

Cases of a “progress” in science and innovation could be an eatery making another formula, a bottling works exploring different avenues regarding another 16 ounces or a business endeavouring to streamline its IT with some restrictive cloud innovation.

Unsure If Your Project Qualifies For R&D Tax Relief? Contact Affinity Outsourcing On 0203–848–4450 For Free Clarification or Visit us at https://affinityoutsourcing.net/

Qualifying R&D Expenditure

You can guarantee cash back on qualifying R&D use, for example, staff costs, subcontractors, consumable materials and gear, utilities (power, water and fuel) and PC programming.

Time Limit

Research and development Tax Relief claims must be presented no later than two years after the year’s end in which the cash was spent. For instance, a business with a bookkeeping year end of April 30th 2017 has until April 30th 2019 to assert or miss out.

Affinity Outsourcing – Specialist R&D Tax Team On Your Side

Affinity outsourcing is a UK owned and managed company providing a range of accountancy and tax services to UK accountants through offices in the UK and India. We are here on your side with more than 30 years of experience. For further information, dial 0203–848–4450 or email info@affinityoutsourcing.net. We also offer a free consultation.

Top 5 Points to Consider Before Opting for Outsourcing Accountancy Services for your Business in the UK

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Accounting is considered as one of the most vital aspects for any business. Yet, at the same time it is one of the most painful, rigorous and bone crunching process that almost no business entrepreneur is interested into. To be honest, no one likes to play with accounts and its other relevant aspects such as tax, bookkeeping, balance sheet, etc. This is why most businesses in the UK, now consider to opt for outsourcing accountancy services. So if you happen to be one in the same field, than here are the Top 5 points to Consider Before Opting for Outsourcing Accountancy Services for your Business in the UK:

1. Experience

Experience of the outsourcing first is the first and foremost factor to be consider. Try finding out beforehand how old the outsourcing firm, how many years of experience does the firm have and how many years does the firm accountants have in handling and managing accounts of the UK businesses.

2. Expertise

With experience comes along the expertise. It is not necessary that all outsourcing accountancy firm possess all knowledge pertaining towards your business. Chances are that your business may not require outsourcing of only accountancy services, but also other services such as bookkeeping, and the firm may not possess such knowledge. In addition, some outsourcing firms may have expertise dealing with only small businesses accounts, some may large, and all these factors should be taken into consideration.

3. Team Strength

So you have find a firm who can help you out with your accounting, has enough experience and expertise, but are they able to deliver you the services on time. What if they themselves are loaded with work and are limited with resources in-house. You do not want your work to be delayed, right. So when the above two points are marked with yes, than confirm about their team strength, so you could get your work delivered on time.

4. Reference Check

The next thing that one should consider prior outsourcing their accountancy work in the UK is about the reference check. Ask for client references, see how their clients were satisfied with their work. This way you will be able to gauge properly and select the one which could turn out to be the best.

5. Affordability

Last but not the least, affordability. Irrespective to how great the accountancy outsourcing service provider is, but if it is out of the budget than it’s a strict no go. You should opt for the one, who matches in line to your budget. Try doing some research, and look for the ones who offer great on-time service, and within the budget. This does not mean that you should look for the cheapest option, yet looking for the affordable one indeed.

If you’re still confused, than contact us at Affinity Outsourcing today.